GBBBKSA
Long

Verge from 382 to 1552 satoshi ($0.0382 to $0.1552)

BITTREX:XVGBTC   Verge / Bitcoin
A price of 1552 satoshi ($0.1522) can be achieved by Verge in the next couple of months, as long as more money keeps pouring into the crypto market.

Verge has formed a falling wedge on the daily and has broken out of it. The volume is looking low at the moment so there is a risk that the breakout can be a failure. However, since MACD on the daily has crossed over, it does look positive. As long as we see a volume build up soon, the given target is achievable.

The following criteria is met for a falling wedge .
1. There has been a bearish trend so far, so this trend will be reversed. The pattern is over 3 months old and the downtrend is around 3 months.
2. At least 3 points make up the upper resistance and lower resistance line.
3. The resistance line and the support line converge to form a cone.


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